Tag: lbo.lk
Sri Lanka rated ‘Mostly Unfree’ in new report: Heritage Foundation
Feb 21, 2017 (LBO) – Sri Lanka slipped to be rated as a ‘Mostly Unfree’ country this year in the Index of Economic Freedom, with the lack of government integrity and judicial freedom contributing towards the slip, a new report showed. The US-based Heritage Foundation, in their annual Index of Economic Freedom, said that economic […]
Sri Lanka Participates in SATTE Travel Exhibition in New Delhi, India
(PRESS RELEASE) – Forty seven Sri Lankan companies, Sri Lanka Tourism Promotion Bureau and Sri Lankan Airlines participated at the South Asia Travel & Tourism Exchange (SATTE) 2017 which is one of the largest travel and tourism exhibitions held in India. Galadari Hotel, Hilton Hotel, Kingsbury Hotel, Jet Wing Travels (Pvt.) Ltd., Aitken Spence Travels, […]
World’s largest car, truck carrier to call at Hambantota port
Feb 20, 2017 (LBO) – MV Hoegh Tracer, the world’s largest pure car and truck Carrier (PCTC), belonging to Hoegh Autoliners AS, Oslo, is scheduled to call at Hambantota port during the first week of March 2017 under its local agency Diamond Shipping Services (Pvt.) Ltd. The vessel is plying under MIAF service (Middle East, […]
Asia shares adrift for US holiday, focus on Unilever
SYDNEY, Feb 20 (Reuters) – Asian share markets were mixed on Monday as political uncertainty globally kept the mood cautious, while the U.S. dollar recouped early losses ahead of a busy week for Federal Reserve speakers. Turnover was light with U.S. markets closed for the Presidents Day holiday. MSCI’s broadest index of Asia-Pacific shares outside […]
Sri Lanka-Singapore FTA to be finalised in 2017: Singapore PM
Feb 20, 2017 (LBO) – The Free Trade Agreement (SLSFTA) between Sri Lanka and Singapore will hopefully be finalised this year, Singapore Prime Minister Lee Hsien Loong said following a dinner with Premier Ranil Wickremesinghe. In a FB post on Saturday, Lee said, “We talked about the FTA that we are negotiating, which we hope to […]
Sri Lanka to forge ahead despite external pressures: Ravi
Feb 17, 2017 (LBO) – Sri Lanka’s finances are improving despite global turmoil, Brexit and higher interest rates in the US, backed by a Fitch Ratings outlook upgrade, the finance minister said. “State revenues in 2016 rose to over 13 percent of gross domestic product from around 10 percent and the budget deficit had come […]
‘s NITF gets reinsurance cover for agriculture
Feb 17, 2017 (LBO) – Sri Lanka’s National Insurance Trust Fund says they have procured a reinsurance program for its agriculture insurance schemes. “This reinsurance programme will provide support to agricultural insurance schemes funded by NITF including the recently launched National Agricultural Loan Protection Scheme,” NITF said in a statement. “The cover has been arranged […]
Softlogic Holdings turnover crosses Rs. 45 Bn, up 9.9-pct
Earnings Review – Group’s cumulative turnover crossed Rs. 45 Bn (up 9.9%) for period ending 31 December 2016 while the quarterly revenue improved marginally to Rs. 15.7 Bn. This slow growth was primarily due to the Group’s substantial downsizing of ‘Nokia’ operations. – Consolidated Gross Profit increased to Rs. 4.7 Bn during the second quarter […]
Australia and Sri Lanka sign new partnership agreement
Feb 16, 2017 (LBO) – Australia and Sri Lanka have signed a new development cooperation partnership during Prime Minister Ranil Wickramasinghe’s visit to Australia. “The new partnership sets a new direction,” the Australian High Commission said releasing a statement. “As Sri Lanka’s economy grows, Australia will support the Government’s reform agenda including ensuring that economic growth […]
Sri Lanka to import 40,000MT of edible oil, Reduce levy on coconut oil
Feb 16, 2017 (LBO) – Sri Lanka’s Cabinet has approved to amend the special commodity levy on coconut oil and related products to allow importation of 40,000 metric tonnes edible oil required for 04 months. Coconut Research Institute has forecasted that the coconut harvest may decrease from 13.9 percent in January – August 2017 compared to […]
Asian stocks at 1-1/2 year highs on robust Wall St; dollar retreats
HONG KONG, Feb 16 (Reuters) – Asian stocks edged up to fresh 19-month highs on Thursday, helped by an extended rally on Wall Street and strong U.S. data though the dollar stepped back after a recent bounce. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, rising to its highest since July […]
Sri Lanka senior citizens’ deposits up to Rs1.5Mn to get higher interest
Feb 15, 2017 (LBO) – Sri Lanka’s Finance Ministry said that it will increase the upper limit up to 1.5 million rupees for 15 percent special interest paid on fixed deposits maintained by senior citizens. Director General of Department of Development Finance said the treasury will pay 18,000 million rupees to cover the difference during the […]